7 Interesting Facts About Employee Turnover [INFOGRAPHIC INCLUDED]

Anja Zojceska | 12/21/2018 | Culture & People

In this blog post, we will introduce 7 most interesting facts about employee turnover that every employer and HR professional should know. Knowing these facts and statistics will help you prevent and tackle this serious and costly HR problem.

Employee turnover - a critical HR statistic

Employee turnover is one of the most important HR statistics.

When your employees leave, you need to replace them, which sets in progress a time consuming and costlyfull cycle recruiting process.

Employee turnover can also have a wider negative effect on your company’s bottom line because of the loss of productivity and the negative morale in your team. It can also have a negative impact on your client relationships.

In order to help you successfully tackle and prevent employee turnover, we gathered some of the most interesting and useful employee turnover facts and statistics.

Top 7 employee turnover facts you need to know

Here is the list of the most important employee turnover questions, facts and statistics every employer and HR professional should know, followed by expert tips on how to successfully tackle these challenging employee turnover facts.

Expert tip:Keep in mind that direct costs are just a part of the total cost of employee replacement.

Total costs associated with a turnover range from 90% to 200% of an employee’s annual salary. A report from the Center for American Progress found that turnover can cost organizations anywhere from 16% to 213% of the lost employee’s salary.

Fact #3: Employers are aware of the turnover problem

Question: Are employers aware of the turnover problem?

Statistic:

87% of employers said that improving retention is a critical priority for their organization.

Expert tip: Do you have a structured, consistent, well-organized employee onboarding system that lasts for a whole year? If you don’t, you should create one ASAP! Check out our comprehensive guide which will ensure that you successfully onboard your new employees.

Make sure your best employees know that they have a chance to learn and grow in your company. Offer them modern employee training opportunities and open the discussion about the possibilities of their career advancement at your company.

Fact #7: Benefits can improve your retention rate

Expert tip:Offer your employees a possibility of occasional remote work. Many employers hesitate to offer remote work opportunities to their employees, especially if they are used to being able to watch their employees at work.

Employee turnover statistics [INFOGRAPHIC]

Here is the infographic with the top 7 employee turnover statistics:

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<a href="https://https://www.talentlyft.com/en/blog/article/245/7-interesting-facts-about-employee-turnover-infographic-included"><img src="https://adoptostaging.blob.core.windows.net/article/cOvRXbChHkaTMafKckbEPA.png" alt="7 interesting facts about employee turnover [INFOGRAPHIC]" width="740px" border="0" data-no-lazy="1" /></a><br/>This infographic was crafted with love by TalentLyft, the simple <a href="https://www.talentlyft.com/en">recruitment software</a> designed to help you find and hire the best candidates.